McGriff, Seibels & Williams to acquire Caledonian Insurance Group
BIRMINGHAM, Ala., April 2, 2014 /PRNewswire/ — McGriff, Seibels & Williams Inc., a subsidiary of BB&T Insurance Holdings, said today it will expand its property and casualty insurance products with the acquisition of Caledonian Insurance Group Inc. of Mercer Island, near Seattle.
Established in 1988, Caledonian specializes in insurance brokerage services for the aviation industry, including regional airlines, cargo airlines, rotor wing operations, fixed wing charter operations, corporate aircraft, airports, fixed-base operators, aircraft component manufacturers, aircraft lessors and international operators. The agency has 24 employees with a branch office in Honolulu.
The transaction was completed April 1. The terms were not disclosed.
“With specialties in the energy business, construction, health care, and transportation sectors, the addition of aviation specialists for our clients is fitting,” said Tommy Ebner, CEO of McGriff, Seibels & Williams Inc. “We have long admired Caledonian as the leaders in this space and are honored to have them join our company.”
McGriff, Seibels & Williams Inc. has been part of BB&T’s retail insurance network since 2004. Based in Birmingham, Ala., it has offices in Atlanta, New York, Houston, Dallas, New Orleans, St. Louis, Charlotte, N.C., Portland, Ore., and now Seattle. McGriff focuses on bringing high quality insurance and risk management practices to large businesses throughout the United States.
“We look forward to expanding our aviation specialty business by joining McGriff and BB&T,” said Jeremy McCaslin, president, Caledonian Insurance Group Inc. “This will be beneficial for both our employees and our many valued clients.”
About BB&T Insurance Holdings
Raleigh, N.C.-based BB&T Insurance Holdings, the sixth largest insurance broker in the U.S. and internationally, is a wholly owned subsidiary of BB&T Corporation. BB&T Insurance Holdings operates more than 100 insurance agencies through subsidiaries BB&T Insurance Services, BB&T Insurance Services of California, and McGriff, Seibels & Williams. Visit http://insurance.BBT.com to learn more.
BB&T (NYSE: BBT) is one of the largest financial services holding companies in the U.S. with $183 billion in assets and market capitalization of $26.4 billion, as of December 31, 2013. Based in Winston-Salem, N.C., the company operates 1,825 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at www.BBT.com.
SOURCE BB&T Insurance Holdings